In February 2014, ABS-CBN Corporation made a highly successful debut in the domestic retail bond market, raising a total of 6 billion pesos with a tenor of seven years at 5.335% per annum. The Securities and Exchange Commission had earlier authorized the Company to issue up to 10 billion pesos fixed rate bonds in one or two tranches. For the first tranche, the Company decided to issue 5 billion pesos, with an overallotment option to provide some flexibility in the event of an oversubscribed issue. Because of strong demand from retail and institutional investors, the underwriters exercised an overallotment option of 1 billion pesos. The Company and the underwriters priced the issue at 110 basis points over the benchmark rate. ABS-CBN had earlier been given the highest possible rating of PRS Aaa by the Philippine Ratings Corporation. Source of Picture: PDEX Website